Pakistan back to drawing board with $4B Roosevelt Hotel plan

Pakistan is back to square one with its attempt to sell the multi-billion-dollar Roosevelt Hotel project site. The government’s privatization commission is once again trying to find a broker to help monetize the development site at 45 East 45th Street, just across from Grand Central Terminal — which could be redeveloped into a 1.8 million square foot office tower. The commission put out a call for brokers and financial advisors who have “proven experience of successful completion of similar transactions in [the] New York metropolitan area (more specifically in Manhattan–NYC) or any other metropolitan city of [the] USA,” according to […] This article originally appeared on The Real Deal. Click here to read the full story.